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ARRY Preliminary migrated from v1 archive

Array Technologies — Q2 2026

Published 2026-08-05

ARRY Q2 2026 - Preliminary Earnings Alert

Event: Quartr Q2 2026 event Retrieved: 2026-08-05T22:14:00Z Comparison mode: maximal Scorecard contract: v1 Source status: release=available | financials=earnings release only | transcript=live (call in progress, 2026-08-05 21:00Z)

Consensus scorecard

Metric / basis Quartr actual API Ninjas consensus Beat/Miss Beat/Miss %
Revenue / total revenue $342.065m $312.967m Beat +$29.098m +9.3%
EPS / adjusted diluted $0.24 $0.1217 Beat +$0.1183 +97.2%

Reported results and guidance

Metric (GAAP unless noted) Q2 2026 Q2 2025 Change
Revenue $342.065m $362.243m −5.6%
Cost of product and service revenue $236.846m $261.479m −9.4%
Amortization of developed technology and backlog $5.615m $3.640m +54.3%
Total cost of revenue $242.461m $265.119m −8.5%
Gross profit $99.604m $97.124m +2.6%
Gross margin 29.1% 26.8% +2.3 pts
Adjusted gross profit (non-GAAP) $105.259m $100.764m +4.5%
Adjusted gross margin (non-GAAP) 30.8% 27.8% +3.0 pts
General and administrative $54.325m $44.954m +20.8%
Change in fair value of contingent consideration $2.441m $0.150m +1,527%
Depreciation and amortization $8.073m $5.644m +43.0%
Total operating expenses $64.839m $50.748m +27.8%
Income from operations $34.765m $46.376m −25.0%
Interest income $2.402m $3.800m −36.8%
Interest expense $(5.786)m $(8.768)m −34.0%
Foreign currency gain, net $0.529m $1.343m −60.6%
Gain on extinguishment of debts, net $0.000m $14.207m to zero
Other expense, net $(0.187)m $(0.079)m +137%
Total other (expense) income, net $(3.042)m $10.503m to an expense
Income before income tax expense $31.723m $56.879m −44.2%
Income tax expense $7.377m $13.617m −45.8%
Net income $24.346m $43.262m −43.7%
Preferred dividends and accretion $15.908m $14.788m +7.6%
Net income to common stockholders $8.438m $28.474m −70.4%
Basic and diluted EPS $0.05 $0.19 −73.7%
Adjusted net income per diluted common share (non-GAAP) $0.24 not stated on the pages read not determinable
Adjusted EBITDA (non-GAAP) $63.3m not stated on the pages read not determinable
Weighted-average basic shares 153,866k 152,584k +0.8%
Weighted-average diluted shares 155,685k 153,068k +1.7%
Six-month item (GAAP unless noted) 6M 2026 6M 2025 Change
Revenue $565.477m $664.606m −14.9%
Total cost of revenue $402.869m $491.054m −18.0%
Gross profit $162.608m $173.552m −6.3%
Gross margin 28.8% 26.1% +2.7 pts
Adjusted gross profit (non-GAAP) $173.917m $180.831m −3.8%
Adjusted gross margin (non-GAAP) 30.8% 27.2% +3.6 pts
General and administrative $104.729m $88.899m +17.8%
Total operating expenses $120.734m $99.892m +20.9%
Income from operations $41.874m $73.660m −43.1%
Income before income tax expense $35.848m $80.159m −55.3%
Net income $26.343m $60.008m −56.1%
Preferred dividends and accretion $31.445m $29.231m +7.6%
Net income (loss) to common stockholders $(5.102)m $30.777m to a loss
Basic and diluted EPS $(0.03) $0.20 to a loss
Orderbook and commercial metric Q2 2026 Comparison Change
Total executed contracts and awarded orders $2.5bn $1.8bn (Q2 2025, implied by the stated 37% increase) +37%
New orders in the quarter over $500m not stated not determinable
Trailing twelve-month book-to-bill 1.5x not stated not determinable
Cumulative tracker product delivered worldwide over 100 GW milestone first surpassed this quarter —
Cash flow item Q2 2026 Q2 2025 6M 2026 6M 2025
Net cash provided by operating activities $121.279m $43.841m $91.858m $30.782m
Purchase of property, plant and equipment $(7.633)m $(6.631)m $(15.144)m $(8.983)m
Free cash flow (operating cash flow less capital expenditure) $113.646m $37.210m $76.714m $21.799m
Net cash used in financing activities $(9.517)m $(11.051)m $(17.129)m $(12.776)m
Equity-based compensation $4.579m $3.898m $8.520m $6.696m
Cash and cash equivalents and restricted cash, end of period $307.302m $378.770m $307.302m $378.770m
Balance sheet item 30 Jun 2026 31 Dec 2025 Change
Cash and cash equivalents $307.302m $244.388m +25.7%
Accounts receivable, net $323.439m $271.578m +19.1%
Inventories, net $156.469m $150.374m +4.1%
Prepaid expenses and other $104.576m $201.108m −48.0%
Total current assets $891.786m $869.044m +2.6%
Property, plant and equipment, net $68.180m $58.225m +17.1%
Goodwill $135.173m $135.173m unchanged
Other intangible assets, net $212.472m $238.579m −10.9%
Other assets $109.202m $29.718m +267%
Total assets $1,534.036m $1,451.792m +5.7%
Accounts payable $161.092m $143.994m +11.9%
Accrued expenses $101.501m $54.289m +87.0%
Deferred revenue, current $105.103m $128.433m −18.2%
Current portion of debt $0.000m $10.315m repaid
Total current liabilities $405.762m $377.012m +7.6%
Deferred revenue, non-current $45.385m $16.794m +170%
Long-term debt, net of current portion $657.749m $658.664m −0.1%
Series A Redeemable Perpetual Preferred Stock $498.173m $466.728m +6.7%
Preferred liquidation preference $506.4m $493.1m +2.7%
Additional paid-in capital $203.156m $226.848m −10.4%
Accumulated deficit $(396.516)m $(422.859)m deficit shrank $26.343m
Total stockholders' equity (deficit) $(202.080)m $(206.340)m deficit shrank $4.260m

Guidance (full-year revenue reaffirmed; adjusted EBITDA and adjusted EPS floors raised; adjusted gross margin range newly stated):

Metric FY 2026 guide Prior FY 2026 guide Q3 2026 guide
Revenue $1.4bn - $1.5bn $1.4bn - $1.5bn (consistent) $310m - $330m
Adjusted gross margin 27% - 28% not stated in this release not stated in this release
Adjusted EBITDA $210m - $230m $200m - $230m not stated in this release
Adjusted net income per common share $0.68 - $0.75 $0.65 - $0.75 not stated in this release

Key bullish aspects

Key bearish aspects

Key uncertainties

Market context

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